Retail

SEPTEMBER U.S. AUTO SALES

Post-holiday sales volume remains strong, analysts say

3:30 pm U.S. ET | Sept. 25, 2014
September U.S. auto sales are expected to come in about 10 percent higher than a year ago, according to four analysts' estimates, with no sign of a typical post-Labor Day slowdown. With three months to go, analysts are increasingly confident that total industry sales for the year will reach at least 16.4 million. LMC Automotive and Kelley Blue Book each raised their 2014 forecast to that level today, matching TrueCar and Edmunds.com. That would represent a 5 percent gain from 2013.... Read More »

 

Barra lands on Time cover and back in the spotlight

1:34 pm U.S. ET | Sept. 25, 2014
After months of blistering criticism, lampoons and scrutiny of General Motors, CEO Mary Barra is venturing back into the media spotlight after an initial rush of positive publicity early this year when she became the first female CEO of a major automaker. Barra made appearances in New York this week, and today she is the subject of Time magazine's cover story.... Read More »

 

RICHARD TRUETT

Automakers battle in annual Texas truck showdown

12:45 pm U.S. ET | Sept. 25, 2014
General Motors, Ford, Chrysler and Toyota are rolling into this weekend's Texas State Fair in Dallas with guns blazing -- at each other. Around 3 million pairs of cowboy boots visit the fair each year, which makes it ground zero in the truck and SUV marketing wars.... Read More »

 

Tesla expands in Hong Kong to tap EV demand

10:27 am U.S. ET | Sept. 25, 2014
Tesla Motors plans to double its workforce in Hong Kong as the electric car maker expands in a market the company said could become the “Norway of Asia.”... Read More »

 

Report faults Treasury on 'excessive' post-bailout pay at GM, Ally

12:13 pm U.S. ET | Sept. 24, 2014
Top executives at General Motors and Ally Financial received excessive compensation after receiving bailout funds from the U.S. Treasury in 2009, according to a Treasury special inspector general report released today.... Read More »

 

AutoNation partners with Hennessey on performance upgrades

4:13 pm U.S. ET | Sept. 24, 2014
AutoNation, in a move to cater to the tuner crowd, began providing customers with performance upgrades at its 27 Chevrolet dealerships this month through a new partnership with aftermarket tuning house Hennessey Performance.... Read More »

 

Mazda ponders designer goods line in upscale push

11:42 am U.S. ET | Sept. 24, 2014
Does Mazda have enough brand cachet to market designer goods -- such as gadgets, apparel and furniture -- as luxury marques such as Porsche have done?... Read More »

 

Share of CarMax sales financed with subprime loans declines

12:01 am U.S. ET | Sept. 24, 2014
The percentage of CarMax vehicles purchased with loans from lenders that specialize in subprime loans dropped almost 5 percentage points in the company’s fiscal quarter that ended Aug. 31. But don’t read too much into that, the company says.... Read More »

 

Q&A

CFPB’s new rule ups costs for small lenders, creates unlevel field

12:01 am U.S. ET | Sept. 24, 2014
The Consumer Financial Protection Bureau’s proposed new rule extending its jurisdiction to include “larger participant” nonbank auto lenders has some shortcomings, says Bill Himpler, executive vice president of the American Financial Services Association.... Read More »

 

Auto finance growth expected to boost car sales into 2015

12:01 am U.S. ET | Sept. 24, 2014
The growth in U.S. auto sales has slowed but a healthy auto loan and lease environment should continue to support higher sales the rest of this year and next, Moody's Analytics says.... Read More »

 

JIM HENRY

Auto finance industry still paying for past sins

12:01 am U.S. ET | Sept. 24, 2014
Consumer Financial Protection Bureau regulators seem to have a caricature of a plaid, polyester sport coat-wearing car salesman in mind when they talk about auto retailing.... Read More »

 

How F&I managers can stay credible with 6 key audiences

12:01 am U.S. ET | Sept. 24, 2014
The customer is only one of a half-dozen audiences F&I managers need to maintain credibility with if they want to be successful, F&I trainer Tony Dupaquier says.... Read More »

 

Germany to offer free parking to spur EV sales

Sept. 24, 2014 13:47 CET
Germany will offer free parking and the right to use bus lanes to buyers of electric, fuel cell and some plug-in hybrid cars in a bid to have 1 million EVs on German roads by 2020, up from about 21,000 at the start of the year.... Read More »

 

Cadillac’s China sales expected to grow 40% this year

6:35 am U.S. ET | Sept. 24, 2014
GM expects Cadillac sales in China to increase 40 percent this year, as it prepares to reorganize its luxury brand as a separate unit based in New York.... Read More »

 

Credit unions take long-loan lead

12:01 am U.S. ET | Sept. 24, 2014
Credit unions are helping lead the charge into longer loan terms -- some longer than 84 months -- as customers seek to keep their monthly payments flat while taking out larger loans.... Read More »

 

Credit union's key: 'Do everything right'

12:01 am U.S. ET | Sept. 24, 2014
The leading provider of auto loans in New Hampshire isn't a bank or a captive finance company.... Read More »

 

Fiat, VW must face lawsuit over fuel figures, group says

Sept. 23, 2014 15:35 CET
An Italian consumer group is inviting car buyers to join a lawsuit against Fiat and VW over allegations that two of the automakers' vehicles were between 18 percent and 50 percent less fuel efficient than stated by the companies.... Read More »

 

Audi, Chevy, Lincoln plan bigger marketing outlays to support '15 launches

9:08 pm U.S. ET | Sept. 23, 2014
Several major auto brands will boost their marketing budgets next year to support busy model launch schedules, a group of executives said at the Automotive News Marketing Seminar in New York on Tuesday.... Read More »

 

GM says it will move Cadillac headquarters to New York

9:09 am U.S. ET | Sept. 23, 2014
General Motors today confirmed plans to move its Cadillac brand headquarters to New York next year in a move to remake the luxury marque's image and broaden its appeal outside North America.... Read More »

 

Lotus halts U.S. sales for 2015 model year

3:56 pm U.S. ET | Sept. 23, 2014
Boutique British sports car maker Lotus may be due for a pit stop in the U.S. The only Lotus model sold in the U.S., the Evora, is being dropped for the 2015 model year because it no longer meets U.S. federal crash standards.... Read More »

 

CarMax reports double-digit increases in Q2 revenue, profit

8:19 am U.S. ET | Sept. 23, 2014
CarMax Inc., the largest U.S. used-car retailer, reported a 11 percent rise in quarterly revenue as easier availability of credit boosted car sales.... Read More »

 

Michelin seen missing 2014 sales goal, report says

Sept. 23, 2014 11:37 CET
Michelin may miss its goal of boosting sales by 3 percent this year on weak European and emerging markets, a French daily reported, citing the company's finance chief Marc Henry.... Read More »

 

How dealer Bill Hoehn creates a work force that flourishes

12:01 am U.S. ET | Sept. 22, 2014
California dealer Bill Hoehn says his 500 employees need more than a decent salary and a stable place to work if they are going to truly flourish. Wellness benefits at his 12-franchise chain include free yoga and Pilates classes. In addition, a full-time chaplain provides counsel for challenges big and small. Hoehn's tenet: If workers thrive in their personal lives, they'll thrive as professionals, too.... Read More »

 

Cadillac names European exec Jim Bunnell as U.S. sales chief

2:31 pm U.S. ET | Sept. 22, 2014
Cadillac named Jim Bunnell as its new sales chief in the United States today as the brand looks to improve sluggish volume and implement a fresh approach under new global boss Johan de Nysschen. Bunnell, 59, who joined General Motors in 1979 and spent most of his career in sales and product planning roles at Pontiac and GMC, becomes the fourth head of Cadillac sales in a little more than two years.... Read More »

 

Group 1 exits N.Y., looks south

12:01 am U.S. ET | Sept. 22, 2014
Group 1 Automotive's latest buy-sells take it out of the Long Island, N.Y., market as the dealership group seeks to add stores in the Carolinas and Virginia.... Read More »

 

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